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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. An opinion of title, a certificate of title, a Torrens certificate, and title insurance are all examples of:

A) evidence of title
B) chain of title
C) equitable title
D) cloud on a title

2. Why do lenders need liquidity?

A) so loans can be packaged together to create MBSs
B) so they can put their money in long-term assets
C) to qualify for FHA insurance
D) so they have the funds to originate more loans

3. All of the following are examples of legal descriptions of property EXCEPT:

A) Lot E, Block 14 of West Lake Village, Orange County, Texas
B) 8647 Notting Hill Drive, Berkshire, Colorado 52467
C) Lot A, Block 2 of Shady Tree Subdivision, Madison County, Wisconsin
D) SW 1/4 of NW 1/4 of NE 1/2 of T3N R4E of Meridian 16

4. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

A) general warranty deed
B) quitclaim deed
C) special warranty deed
D) bargain and sale deed

5. What would make claims based on a contract unenforceable?

A) specific performance, rescission, and forfeiture
B) assignment, mediation, and arbitration
C) mutual assent, lawful objective, and reality of consent
D) the statute of limitations and doctrine of laches

Solutions: